Business briefs

Transurban
has refinanced $375 million of bank debt maturing in August 2012 with a syndicated bank facility provided by five banks comprising the Bank of Nova Scotia and the Royal Bank of Canada as well as three Australian banks. Jenny Wiggins

Macquarie Group has taken a substantial holding in the Australian Infrastructure Fund, and now owns 5.06 per cent. The fund, which owns stakes in Perth and Melbourne airports, is considering internalising management and is also simplifying its portfolio by selling non-core assets like ports.

Jenny Wiggins

Timber investment company New Forests has snapped up 46,000 hectares of softwood plantations in northern Tasmania for $156 million from Taswood Growers, a joint venture between Forestry Tasmania and GMO Renewable Resources. The pair sold the rights for the timber while the state maintains ownership of the land.

Carrie LaFrenz

Mount Gibson Iron
managing director
Luke Tonki
n will step down on December 16 despite agreeing to stay on for six months when his resignation was announced last month.Chief operating officer Jim Beyer will act as interim CEO.Ayesha de Kretser

Animal feed producer
Ridley
has agreed to buy a stake in Ruralco subsidiary Monds & Affleck for an undisclosed sum. Ridley will also manufacture product for Monds, a stockfeed processor and distributor. Ridley will distribute Monds products nationally.